If I understand it right, this is worse than just "the public option won't pay for abortion." This is, "the health care exchange won't involve itself with any private plans that include abortion", thereby discouraging that coverage in free market. I'm hearing a lot of other nasty rumors about what it means exactly, but with only 12 hours having passed since the bill passed we'd better do some checking.

What you wrote is correct. No insurance policy in the public exxhange can cover abortion EVEN WHEN THE WOMAN PAYS FOR THE POLICY ENTIRELY WITH HER OWN PERSONAL FUNDS. And, the bill mandates that you must buy insurance.